Chivas Brothers, the Scotch whisky business of Pernod Ricard, announced its “strongest financial performance in a decade” with 17% growth in net sales in the year to June 2023.

The business reported “historic highs” for strategic brands Chivas Regal (+25%), Ballantine’s (+13%) and Royal Salute (+32%).

It said Chivas Regal was the leading contributor to Pernod Ricard Group growth in FY23. 

Chivas Brothers said The Glenlivet continued its upward trajectory with 9% growth and was the best-selling single malt in the world by volume in 2022, according to the IWSR. 

Aberlour grew 11% in the malts category. 

Chivas Brothers announced more than £60 million in planned investment over the next three years “to accelerate its energy and carbon reduction journeys to achieve carbon neutral distillation by the end of 2026.”

The business said: “The Asia region has been particularly robust, with +21% growth in FY23, and the number one contributor to growth overall.

“India (+27%), South Korea (+19%), Japan (+28%) and Greater China (+7%) have also seen exceptionally strong performances and are driving demand with new Scotch audiences. 

“The North American market has seen stellar growth in a highly saturated market, with +8% growth. The US and Canada saw 8% and 7% growth respectively.”

Chivas Brothers chairman and CEO Jean-Etienne Gourgues said: “The historic highs we’re seeing across our strategic brands signal the success of our premiumisation strategy which has enabled Chivas Brothers to outperform the market.

“Our highest growth of the last decade reinforces our position to shape the future of sustainable Scotch while continuing to meet demand.

“We have fast-tracked a number of sustainability initiatives to meet our own ambitious targets and remain committed to supporting the industry in ushering in this new era —as we demonstrated earlier this year by making our heat recovery findings open source.”

“The historic highs we’re seeing across our strategic brands signal the success of our premiumisation strategy which has enabled Chivas Brothers to outperform the market.

“Our highest growth of the last decade reinforces our position to shape the future of sustainable Scotch while continuing to meet demand.

“We have fast-tracked a number of sustainability initiatives to meet our own ambitious targets and remain committed to supporting the industry in ushering in this new era —as we demonstrated earlier this year by making our heat recovery findings open source.”